Xingquan Trend Investment Mixed LOF has disclosed its first-quarter report. During the reporting period, the fund's net asset value per share growth rate significantly outperformed the benchmark return, with continued emphasis on technology and growth investment opportunities. Fund manager Yang Shijin stated that adjustments were made to certain individual stocks based on investment "value-for-money" considerations. Compared with the fourth quarter of 2025, four stocks were replaced in the top ten holdings, with Zijin Mining Group Company Limited experiencing substantial reduction. As a flexible allocation fund with assets exceeding 14 billion yuan, the net asset value per share of Xingquan Trend Investment Mixed (LOF) stood at 0.7557 yuan by the end of the reporting period. The fund's net asset value per share grew by 4.21% during the quarter, while the benchmark return was -1.58%. The fund's top ten holdings include: Hygon Information Technology, Contemporary Amperex Technology Co., Limited, Luxshare Precision Industry, ZTT Technology, Zijin Mining Group Company Limited, NAURA Technology Group, Raytron Technology, Lionco Pharmaceutical Group, JCET Group, and Tianzhun Technology. Significant changes occurred in the fund's heavy holdings compared to the Q4 2025 report. Among these, ZTT Technology, Lionco Pharmaceutical Group, JCET Group, and Tianzhun Technology newly entered the top ten holdings, demonstrating the fund's diversified positioning in technology growth sectors. Meanwhile, among stocks remaining in heavy holdings, Zijin Mining Group Company Limited saw its position reduced by approximately one-third. Positions in NAURA Technology Group, Contemporary Amperex Technology Co., Limited, and Luxshare Precision Industry were decreased to varying degrees, while Raytron Technology's position remained largely stable. Yang Shijin indicated that during the reporting period, the fund continuously optimized its portfolio holdings, adjusting certain stocks from a value-for-money perspective while maintaining its overall configuration strategy. He expressed strong alignment with the 15th Five-Year Plan's emphasis on "using the certainty of high-quality development to address various uncertainties, continuing to write new chapters in the twin miracles of rapid economic development and long-term social stability." He believes this process will accumulate relative advantages, creating better investment prospects for Chinese assets. In March 2026, China's Manufacturing Purchasing Managers' Index reached 50.4%, rising 1.4 percentage points from the previous month and staying above the threshold, indicating a recovery in manufacturing prosperity. Additionally, from January to February, industrial enterprises above designated size achieved total profits of 1,024.56 billion yuan, representing a 15.2% year-on-year growth with impressive momentum. Overall, the domestic economy maintains stable development amid transformation and upgrading. He noted that conflicts in the Middle East triggered fluctuations in global stock markets. Geopolitical turbulence and restructuring present significant challenges for investments. During Q1 2026, the Shanghai Composite Index fell 1.94%, the Shenzhen Component Index declined 0.35%, and the ChiNext Index dropped 0.57%. Sectors including coal, petroleum and petrochemicals performed well, while telecommunications also saw gains.